What are the categories in Huobi?

08/18/2023 18:02 • AI Insights • 83 views

What are the categories in Huobi? In traditional finance, exchanges are generally divided into three categories based on trading pairs. The first category is cryptocurrency, such as Bitcoin, which can be traded as legal tender; the second category is Ethereum, which is also a popular type of cryptocurrency, known for its decentralized and transparent characteristics. Huobi’s exchange categorizes assets based on their types.

There are three types in total: exchanges, wallets, and token issuance. They all utilize blockchain technology to ensure security through technical means or integrated applications of other technologies. Additionally, there are other projects similar to exchange platforms.

Legally, exchanges are considered informal organizational entities and do not accept any form of regulation. However, due to concerns about fund security and related risks, most of them engage in illegal activities. Therefore, these companies usually confuse their business with other virtual products and manage them in a way they consider compliant, within the limits of the law.

The difference between the two lies in the different fields they belong to, such as Bitcoin. In traditional finance, investors often lack the understanding of the importance of investment markets and the corresponding knowledge, resulting in high investment amounts and losses. Meanwhile, in the blockchain world, many countries have a pessimistic attitude towards Bitcoin, leading to the emergence of industry activities such as mining and custodianship. This makes them more cautious in choosing to hold Bitcoin and other tokens as legal currency instead of using Bitcoin. To avoid issues like hacking or fraud, they adopt a “private placement” approach, which can turn licensed platforms into legal participants.

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What are the categories in Huobi?

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